The GBP/USD currency pair today dropped from an intra-day high of 1.3329 to a low of 1.3207 before retracing some of its losses.

The pair headed lower shortly after yesterday’s vote as investors took profits after the massive spike higher. The pair’s decline persisted into the Asian session as the Brexit process was thrown into disarray. The cable rallied briefly into the early European session amid rumors that the Northern Irish DUP was thinking of supporting the government’s Brexit deal. The uncertainty around the extension period weighed on the cable as Donald Tusk the European Council President pushed for a longer extension, while Theresa May was pushing for a shorter delay period. Lack of support for a second Brexit referendum by the UK’s Labour Party and President Donald Trump also weighed on the pair during the American session.